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The lawsuit alleges Discover misclassified millions of consumer credit cards as commercial accounts between 2007 and 2023, resulting in higher…
How much is the settlement worth?
The settlement fund totals approximately $1.2 billion, allocated for merchants harmed by these misclassifications.
Who can file a claim?
Eligible participants include end merchants, merchant acquirers, and payment intermediaries who processed Discover transactions between January 1, 2007, and December…
How do I submit a claim?
Detailed instructions, including documents needed and filing dates, will be provided once the court grants final approval. Notice and claims…
What is the impact of the FDIC and Federal Reserve action?
Regulators concluded Discover misclassified consumer cards for 17 years, overcharging merchants by more than $1 billion. Discover was fined, and…
Where can I find more info?
Visit the official Discover Merchant Settlement website or consult court-authorized updates. You can refer to ongoing legal updates on reputable…
Can I exclude myself or object?
Yes. You may opt out if you do not wish to participate or object if you disagree with the settlement…
Do I have to pay to file a claim?
No. There is no cost to submit a claim. Third-party firms may offer assistance for a fee, but filing independently…
What documentation will be required?
You may need to supply transaction records showing interchange fees paid, merchant category codes, transaction volumes, and total sales.
When will payments be made?
No timeline has been finalized, but payments generally follow after the claims review process once final approval is granted. Distributions…
